The world’s most expensive paintings sold at auction are testament to the popularity of art, and the updated Top Ten List reveals a growing interest in contemporary art. Works from the Abstract Expressionism movement in America top the list followed by nouveau art, Picasso, Pop Art, Renaissance art, and figurative art from Francis Bacon.

The most expensive painting ever sold was a portrait of Mother Teresa which was painted by the Nepalese artist Agr Hood. The painting fetched an impressive $238 million in 2010 at a private auction which was held in London. The painting was bought by an anonymous private collector.

Jackson Pollock’s "Number 5, 1948" is third the list, selling for an impressive $140 million. This figure was reached in a private sale in 2006 and rumours place David Martinez, the Mexican businessman as the buyer. "Woman III," 1952-53 by another American abstract expressionist Willem Kooning comes next, fetching $137.5 million in a private sale.

"Adele Bloch-bauer I," 1907 by Gustav Klimt is fourth on the list, commanding $135 million. Confiscated by the Nazis during World War II, the painting was returned to the heirs Ferdinand Bloch-Bauer and was purchased by Ronald Lauder, the cosmetic magnate in 2006. Next is a sensuous work by Pablo Picasso, "Nude, Green Leaves and Bust," 1932 that sold for $106.5 million in a Christie’s New York auction in 2010. Picasso’s Rose Period work "Garcon a la pipe," 1904 is the 5th most expensive painting selling for $104.1 million at Sotheby’s New York auction in May 2004.

Pop Art takes centre-stage with Andy Warhol’s distinctive "Eight Elvises," 1963 seventh on the list, selling for $100 million at a private sale in 2008. Prior to this, another painting by Warhol had also set a record, "Green Car Crash" ("Green Burning Car I") at Christie’s New York in 2007 fetching $71.7 million.

The final three paintings in the top ten most expensive paintings are "Dora maar au chat" (1941) by Pablo Picasso that sold for $95.2 million in May 2006 at Sotheby’s New York, Titian’s "Diana and Actaeon," (1556-1559) which commanded $91 million in February 2009 at a private sale, Gustav Klimt’s "Adele Bloch-bauer II," (1912) which sold for $87.1 million at Christie’s New York, November 2006 and "Tryptich 1976" by Francis Bacon that sold for $86.3 million at Sotheby’s New York auction in May 2008.

High profile buyers have contributed to the increased fame and popularity of many paintings. The deceased Japanese millionaire Ryoei Saito purchased two of the world’s most expensive paintings, Vincent van Gogh’s "Portrait of Dr. Gachet" for $82.5 million and Pierre-Auguste Renoir’s "Bal du Moulin de la Galette" for $78.1 million respectively at the New York auctions of Christie’s and Sotheby’s respectively in 1990.

Another of Pablo Picasso’s paintings to hit the list is one of the works from his Blue Period, "Femme aux Bras Croises," (1901) that fetched $55 million in 2000 at Christie’s New York City. One of Van Gogh’s works also has now been pushed off of the most expensive list, "Portrait of Joseph Roulin" for $52 million plus exchange of works in 1989 by the Museum of Modern Art, New York making it the eleventh highest figure ever received for a painting.

The list of the world’s most expensive paintings keeps changing, but what remains constant is the impact of art in the lives of prominent people. Investing in art is a capital idea, as these figures prove.